I'll use 13, 34 time periods, little late in signal....but pretty reliable
Monday, May 31, 2010
Barron's Online "Thursday's Rally--What Really Changed
by Randall Forsyth column Up And Down Wall Street I had earlier given link to Shadow Stats website where he displays the shrinking M3 supply.
But we will concentrate on the charts to guide us, keep us safe from harm.....that's my goal anyway
Alan Abelson "Orgy OF SPeculation"
Duratek
But we will concentrate on the charts to guide us, keep us safe from harm.....that's my goal anyway
Alan Abelson "Orgy OF SPeculation"
Duratek
MAY DAY
MAY 2010 now goes on record as being the WORST may in over 70 YEARS of market history! and one of the worst monthly declines on record.
Now we MAY be in a primary uptrend, those who contend this say the TOP count in APril did NOT warn of a major top, data was very strong, rally was healthy.
$1T has come OUT of Money FUNDS and INTO this rally, so money on sidelines has participated and was eager to come in, 2007-2009 bear didnt dent their enthusiasm.
Weakness around the world make US look less weak? Proliferation of HFT done by computers may be skewing the human element of market data.
If Primary Uptrend is not over, then NEW RALLY HIGHS can be expected before it is done.
VOLUME has EXPLDED on the declines, receded on the rallies....not everything lining up well for me in the tea leaves.
Given 75% gains, given world backdrop, and many points I have made, I remain cautious this market
D
Now we MAY be in a primary uptrend, those who contend this say the TOP count in APril did NOT warn of a major top, data was very strong, rally was healthy.
$1T has come OUT of Money FUNDS and INTO this rally, so money on sidelines has participated and was eager to come in, 2007-2009 bear didnt dent their enthusiasm.
Weakness around the world make US look less weak? Proliferation of HFT done by computers may be skewing the human element of market data.
If Primary Uptrend is not over, then NEW RALLY HIGHS can be expected before it is done.
VOLUME has EXPLDED on the declines, receded on the rallies....not everything lining up well for me in the tea leaves.
Given 75% gains, given world backdrop, and many points I have made, I remain cautious this market
D
Sunday, May 30, 2010
BUBBLE UPON BUBBLE UPON BUBBLE
Credit BUbble Bulletin from "Unwitting Beneficiary"
>Fundamentally, this Bubble’s main price distortions emanate from the market perception that synchronized global fiscal and monetary policies will sustain global financial and economic recoveries. This creates a dynamic where massive issuance of sovereign debt is generally priced in the marketplace with meager little risk premiums. Similarly, the perception that markets and economies are underpinned by government policies ensures that debt instruments throughout – certainly including U.S. corporates, municipal debt, agencies, and mortgages – trade at narrow risk spreads to sovereigns. It’s the ultimate “too big to fail.”
>Fundamentally, this Bubble’s main price distortions emanate from the market perception that synchronized global fiscal and monetary policies will sustain global financial and economic recoveries. This creates a dynamic where massive issuance of sovereign debt is generally priced in the marketplace with meager little risk premiums. Similarly, the perception that markets and economies are underpinned by government policies ensures that debt instruments throughout – certainly including U.S. corporates, municipal debt, agencies, and mortgages – trade at narrow risk spreads to sovereigns. It’s the ultimate “too big to fail.”
Saturday, May 29, 2010
Memorial Day Weekend POST
Gots lots of reading to catch up with this weekend.
Friday failed to deliver any follow though, the FED DRIVEN GOV LED STIMULUS LADEN revival is a damn fizzle. The economy IMHO is DOA.
Many of you may stop in and think this guy is a real grouch, or wonder if I am a perma bear. I am not a grouch, nor perma bear, was HYPER BULLISH in the 90's....but here come the new century and I have been avoiding stocks for last 10 years for the most part, unless trading.
STocks valued in US $'s have plunged and NOT RECOVERED. Stocks are lower than they were over 10 years ago. CASH has outperformed stocks. BOnds have outperformed stocks, gold has outperformed all.
If the market doesn't find some traction soon, good chance we get ONE of the possible BEAR MKT signals a 50/200 cross.
My wish is for a real recovery, but for that to be possible, we would need real change....
Duratek
Friday, May 28, 2010
ECRI WEAKENS and FED POLICY AIDED FAT FINGER CRASH
FED POLICY HELPED FAT FINGER CRASH?
ECRI growth at 39 week lows. Annualized growth at 47 week lows. Hoorah! ECRI called problems, called 2009 spurt....now warning of slower growth ahead...will the stock market catch up?
D
ECRI growth at 39 week lows. Annualized growth at 47 week lows. Hoorah! ECRI called problems, called 2009 spurt....now warning of slower growth ahead...will the stock market catch up?
D
UPSIDE DAY
Big day THurs, 97% upside volume wow. Will that mark a bottom of some kind? FRI follow thru might seal it.
One piece to add, I notice LIBOR rates have NOT BUDGED......I think this is a counter move to a more extended decline.
AFter uptick rule was suspended 90% days no longer good for predicting
News ino.com
Germany likely to cut its number of armed forces
8 minutes ago
Germany says it is likely to cut the number of its troops from 250,000 to save money. Guttenberg told ARD television such "bitter news" is necessary given budget constraints amid the global economic downturn.
D
One piece to add, I notice LIBOR rates have NOT BUDGED......I think this is a counter move to a more extended decline.
AFter uptick rule was suspended 90% days no longer good for predicting
News ino.com
Germany likely to cut its number of armed forces
8 minutes ago
Germany says it is likely to cut the number of its troops from 250,000 to save money. Guttenberg told ARD television such "bitter news" is necessary given budget constraints amid the global economic downturn.
D
Thursday, May 27, 2010
WALL STREET REFORM A JOKE
MATT TAIBBI story from Rolling STone magazine.
Flagpole rally whoopie......so glad we got nothing to worry about.....let her rip, have fun...
D
Flagpole rally whoopie......so glad we got nothing to worry about.....let her rip, have fun...
D
US MONEY SUPPLY PLUNGES AT 1930's DEPRESSION PACE
Astute reader picked up on this, here is link to story TELEGRAPH.UK
"The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history. "
I call it BLACK HOLE DEFLATION
Duratek
"The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history. "
I call it BLACK HOLE DEFLATION
Duratek
BLACK CAT DEAD BOUNCE
GDP 2nd revision revised DOWN to 3.0% experts were looking for 3.3-3.4%
They SAY claims FELL.....but claims are ELEVATED at 460,000. With GDP receding like gingivitis is it not apparent the myth of V shaped expansion is exposed? With stock valuations elevated, IMHO the accidents will be to the downside.
END to Secular Bear Markets in history come with SINGLE DIGIT PE RATIOS ( we are near 22 on SPX ?) and near 6% SPX dividend yields (now in the 2% range)......5 yr yields under 2% 10 yr near 3%.....where is the CONFIDENCE?
2010 college grads to make less than 2009....more deflation. Are goverments now hesitant to keep pumping stimulus with DEBT ratios dangerously high? Words like AUSTERITY ring though the halls....debt to GDP ratio in the US is ABOVE the DANGER ZONE of 90%.
SO many issues, so little attention, we got a Pres who is like boobs on a boar.....Congress stupified like a drunk who mistakes KAOPECTATE for whiskey......tuck and roll, tuck and roll
Duratek
They SAY claims FELL.....but claims are ELEVATED at 460,000. With GDP receding like gingivitis is it not apparent the myth of V shaped expansion is exposed? With stock valuations elevated, IMHO the accidents will be to the downside.
END to Secular Bear Markets in history come with SINGLE DIGIT PE RATIOS ( we are near 22 on SPX ?) and near 6% SPX dividend yields (now in the 2% range)......5 yr yields under 2% 10 yr near 3%.....where is the CONFIDENCE?
2010 college grads to make less than 2009....more deflation. Are goverments now hesitant to keep pumping stimulus with DEBT ratios dangerously high? Words like AUSTERITY ring though the halls....debt to GDP ratio in the US is ABOVE the DANGER ZONE of 90%.
SO many issues, so little attention, we got a Pres who is like boobs on a boar.....Congress stupified like a drunk who mistakes KAOPECTATE for whiskey......tuck and roll, tuck and roll
Duratek
ANOTHER DAY ANOTHER HEADLINE
Closeup of recent action, includes wilds swings in price, expect one today as well. Resistance might be as shown the 200 day exponential moving avg (EMA) at 1101
50 is crashing down thru the 200, classic BEAR signal to yields (lower)
price higher(inverse to yield). Declining MA's will now resist any move higher in yields.....bull mkt in stocks? why HUGE flight to safety?
Oil rises above $73 amid brighter economic outlook
6 minutes ago @ ino.com
"Oil prices climbed above $73 a barrel Thursday, driven by strong Asian economic growth figures and market anticipation of positive data about U.S. growth prospects. Crude extended its gains from the previous day when the oil price posted its largest daily gain for eight months."
6 minutes ago @ ino.com
"Oil prices climbed above $73 a barrel Thursday, driven by strong Asian economic growth figures and market anticipation of positive data about U.S. growth prospects. Crude extended its gains from the previous day when the oil price posted its largest daily gain for eight months."
Now, does anyone ask themselves WHO is asked or quoted in the MSM for these important headlines?
Everyday the market is down, we get "Fears of European debt crisis sends stocks lower" "Fear of slowdown sends oil prices down" OR when the market is up we get above or "fears ease and hope grows that European debt crisis is overblown"
IMHO the action we have been witnessing is BEAR MARKET ACTION, this is not typical of a bull market and valuations are elevated near historic extremes.
A REBOUND has been lurking and today probably we get one with oil surging, 10K has little meaning at this point.....let's explore what might with chart above.
Initial cliams and 2nd "estimate" on GDP at 8:30 futures rocking green.
Wednesday, May 26, 2010
MONTHLY CHART
*click to enlargeOfficially WEEKS ago I put out the "BEAR CAUTION FLAG". Maybe just bullish correction.....maybe not.
D
200 WEEK LINE IN SAND?
Maybe too early to know for sure, but as Belkin points out in 2008, breaking the 200 WEEK not a GOOD THING. We may be experiencing CHOP now around it, a DECISIVE move will show its hand. We all know what happened last time late into 2008 when the 200 week was broken,,,,D
A TIME TO RUN, A TIME TO STAND AND FIGHT
From the Editors of American Banker (sent to me via email)
>>FASB Set to Expand Mark-to-Market Accounting
Accounting standard setters are prepared to issue new rules that could have profound effects, not just on how assets and liabilities get valued but on how banks do business in the future.
The Financial Accounting Standards Board wants to vastly expand the use of mark-to-market accounting. In a draft ruling scheduled for release late Wednesday or Thursday, the FASB is expected to propose that banks value unfunded loan commitments and loans they plan to hold to maturity in the same way that they currently value loans they intend to sell. << How about the rules of mark to market that were SUSPENDED???? how do you "expand" the rules?
DOW could not hold 10,000 line so I guess the "black boxes" circled around the jerk and sold. An oversold market that has no giddyup, today was reversal day
If you want banks that lend again, and seperate from the investment boiler rooms they have become, if you're sick of CEO's Banksters getting $50 M bonuses......call or write your congressmen/woman
If we don't take this country back from the special interest gorups, the insiders, lobbyers, banksters....there'll be nuttin' left for our kids.
D
>>FASB Set to Expand Mark-to-Market Accounting
Accounting standard setters are prepared to issue new rules that could have profound effects, not just on how assets and liabilities get valued but on how banks do business in the future.
The Financial Accounting Standards Board wants to vastly expand the use of mark-to-market accounting. In a draft ruling scheduled for release late Wednesday or Thursday, the FASB is expected to propose that banks value unfunded loan commitments and loans they plan to hold to maturity in the same way that they currently value loans they intend to sell. << How about the rules of mark to market that were SUSPENDED???? how do you "expand" the rules?
DOW could not hold 10,000 line so I guess the "black boxes" circled around the jerk and sold. An oversold market that has no giddyup, today was reversal day
If you want banks that lend again, and seperate from the investment boiler rooms they have become, if you're sick of CEO's Banksters getting $50 M bonuses......call or write your congressmen/woman
If we don't take this country back from the special interest gorups, the insiders, lobbyers, banksters....there'll be nuttin' left for our kids.
D
RUN DON'T WALK TO THE EXITS?
MARKET WATCH ARTICLE TURN OFF THE LIGHTS GAME OVER?
Some good points here, who really is looking out for you? RIGGED game folks, rigged game
D
Some good points here, who really is looking out for you? RIGGED game folks, rigged game
D
RECOVERY? BEAT EXPECTATIONS?
NEW YORK (Reuters) - U.S. mortgage applications to refinance home loans jumped to a seven month high last week as rates neared record lows, but purchase demand remained stuck at a 13-year low.
PEAK IN DURABLE GOODS?
THis is all well and nice, has this translated into ROBUST economy and jobs? something good is happening....I got Theivery Corp Lebanese BLond going on in background..... I'm telling you Blu ray is the BOMB for audio!
D
TARGET AREA FOR BOUNCE
No straight lines in the market, so we might as well consider some areas for the bounce target, from which I feel the decline will resume.
You will notice the "target box" is in vicinity of the 2 declining MA's which may also tug market back...SHOW ME
D
Tuesday, May 25, 2010
BOTTOMING ACTION?
25 Questions to ask about the economic collapse
Perhaps, we have been discussing the very oversold conditions, todays 200 pt ramp down and subsequent recovery may bring the market some "near term" relief. IS this maybe the turn around the bulls have been hoping for and the "next upleg" is about to begin?
I don't know about next upleg just yet, today we have intra day NEW LOWS...and I could be wrong but new closing lows for the year.
10,200 next upside target. 10,259 is the flattening 200 EMA......which "may"now cause resistance, bt there is a lot of negativity to work off.
As the trend develops we will be better able to determine where it may lead us. For now this move wiwll come counter to the MA's which are declining on a short term to midterm basis (10-50 day) It will take a concerted effort to change trend, as the 50 DAY is on a b line to cross down the 200 EMA......but there is time.
Problems around the world increase chances for a 2011 relapse into Recession, and if so, the market will sniff that out.
D
Perhaps, we have been discussing the very oversold conditions, todays 200 pt ramp down and subsequent recovery may bring the market some "near term" relief. IS this maybe the turn around the bulls have been hoping for and the "next upleg" is about to begin?
I don't know about next upleg just yet, today we have intra day NEW LOWS...and I could be wrong but new closing lows for the year.
10,200 next upside target. 10,259 is the flattening 200 EMA......which "may"now cause resistance, bt there is a lot of negativity to work off.
As the trend develops we will be better able to determine where it may lead us. For now this move wiwll come counter to the MA's which are declining on a short term to midterm basis (10-50 day) It will take a concerted effort to change trend, as the 50 DAY is on a b line to cross down the 200 EMA......but there is time.
Problems around the world increase chances for a 2011 relapse into Recession, and if so, the market will sniff that out.
D
RED EYE AM MARKET TALK
Market as we have been discussing is at very oversold levels, under normal conditions that would be enough to rally. Yesterdays drop put it more oversold, and the AM futures suggest triple digit decline at the open over? European debt fears.....forget the headlines
A DEEP DEEP GAP DOWN could set in some kind of bottom in first hour, or roil trading all day....I have been suggesting safer tact is to WAIT for uptrend to re-establish if you desire long positions. Even at oversold, TOO many want to call the bottom.
We have serious problems in this country and abroad, and they won't be solved in a day or new decree. IMHO we are witnessing Bear Market action. I do NOT have confirming TA, that always comes after losses have accumulated. IF we were to get signal it would come with little warning as stocks, and lots of TA including new highs etc were being made at recent highs.
That would all change if we consider the rise from March 2009 lows a bear mkt rally, not a primary new uptrend.....Being in cash during these strong downdrafts is equivalent to being short. SHORT carries much risk and timing is difficult, and is NOT for the majority of investors.
THIS far into this incredable recovery, President still speaking of small business credit, sort of like saying after 36 days of 2 M barrles of oil a day seap into ocean....we need to do something...
Just remember what I said, when I said it and compare to any other discussions you have read or heard....I don't need to call THE TOP or BOTTOM, I have been preaching CAUTION for weeks.....
Duratek
A DEEP DEEP GAP DOWN could set in some kind of bottom in first hour, or roil trading all day....I have been suggesting safer tact is to WAIT for uptrend to re-establish if you desire long positions. Even at oversold, TOO many want to call the bottom.
We have serious problems in this country and abroad, and they won't be solved in a day or new decree. IMHO we are witnessing Bear Market action. I do NOT have confirming TA, that always comes after losses have accumulated. IF we were to get signal it would come with little warning as stocks, and lots of TA including new highs etc were being made at recent highs.
That would all change if we consider the rise from March 2009 lows a bear mkt rally, not a primary new uptrend.....Being in cash during these strong downdrafts is equivalent to being short. SHORT carries much risk and timing is difficult, and is NOT for the majority of investors.
THIS far into this incredable recovery, President still speaking of small business credit, sort of like saying after 36 days of 2 M barrles of oil a day seap into ocean....we need to do something...
Just remember what I said, when I said it and compare to any other discussions you have read or heard....I don't need to call THE TOP or BOTTOM, I have been preaching CAUTION for weeks.....
Duratek
Monday, May 24, 2010
WATER TORTURE. MONDAY WRAP
What happened to the guaranteed Monday rally? And importance of Friday's so-called reversal? or the big oversold condition, doesn't that all guarantee a rally? a LOW?
When you have the boxes duking it out, who knows!
My premise I have been asking you to consider is the vote is cast by the shares bought and sold, that translates into the direction and strength of the different moving averages (short term and longer term like the 50 and 200 vs 5 or 20).
The direction of the moving averages help determine trend. If you are TRADING you want to ride the trend. If you are INVESTING it is nice to know what kind of market you are in....bull or bear.
Diversified portfolio.....yeah yeah......sometimes no place to hide. BONDS have been RED HOT.....yield curve collapsing......bonds are warning of DEFLATION IMHO.
I have drawn 2 trend lines, these are near term areas to be watching any break there look out.
We are beginning to spend some time UNDER the 200 EMA, I find that troubling.
I find troubling inane CNN articles heading "ARE WE IN A NEW BEAR MARKET?" only to find bullish opinion written, a JOKE.....why not call it the bull still lives why worry?
D
Sunday, May 23, 2010
NEWS TO YOU
CNN.COM
Bonds ring economic alarm bells
4:45pm: The sharp drop in treasury yields means cheaper borrowing for taxpayers and homeowners, but could also be a warning of economic pain ahead.
5 economic fault lines pose risks for recovery
Why Europe may kill the U.S. recovery
Bonds ring economic alarm bells
4:45pm: The sharp drop in treasury yields means cheaper borrowing for taxpayers and homeowners, but could also be a warning of economic pain ahead.
5 economic fault lines pose risks for recovery
Why Europe may kill the U.S. recovery
TRADING THE MOVING AVERAGES
Nothing is fool proof. I chose these 2 5/20 as popular for catching trends early, never THE top nor bottom....must add others indicators to help there. This is not for that, but to show that they WILL indicate when price gains some momentum in one direction or other for ST action.
ANd if wanting to go with that trend, waiting for a cross and confirmation TA instead of guessing...could make some sense.
Sentiment, and other indicators may point to oversold, but like a wounded animal...sometimes turn more dangerous.
MY guess is the BOXES are all tuned into basic TA.....and expect little human emotion, when you invest, you invest against the machines.
D
Saturday, May 22, 2010
LAST CHART OF WEEKEND
This chart is called a "Point and Figure" chart. each box represents 50 pts, so it illiminates some noise. Previous row of 0's shows a break of 9900 would NOT be good. Bearish potential shown to 8600.
UNDERSTANDING KONDRATIEF WINTER
from longwave cycles written MARCH 2009 !!
"Destabilization comes from the popping of bubbles, particularly when economic inflation is low, such as now. Therefore, let us review our bubbles. Tech stocks in the 1990’s certainly deserved some money, and the Internet deserved some VC backing. But the spending on the dot.com’s was clearly overkill, and we can see that by the bankruptcies of all but a handful of dot.com’s.
All the talk about the emergence of a New Economy vanished when in March 2000 the law of gravity caught up with the speculation of the late 1990’s, resulting in the wiping out of $4.6 trillion in investor wealth in Wall Street, a sum that, as Business Week pointed out, was half of the U.S. Gross Domestic Product and four times the wealth wiped out in the 1987 crash. After the Nasdaq crash burst the tech bubble, we piled into houses. Was that smarter or dumber than dot.com’s? Dumber, of course! Houses?!?!?! Where is the new technology in that? We had houses 1000 years ago! How on Earth is it logical to pay twice as much for a house than the price it was sold for only three years ago? That is absurd! And yet we piled in because we had no place better to put our money, i.e. we had fewer and fewer value-driven business opportunities to pursue.
Time-tested principles of prudent mortgage lending will inevitability return, and houses will once again be regarded merely as places to live. Perhaps you do not yet believe that housing is a bubble. Fine. I’m sure you will see otherwise. But, you know, even if house prices were to just level off (which they definitely will only do in a pipe dream), then their run-up is still insane, and symptomatic of a society that is piling into undeserving investment vehicles.
What’s next? Nothing. There are no further assets that we can lever up. Sure, we are presently piling into 30-year U.S. Treasuries, for the reasons I provided in Part 5, but Treasuries are 100% debt anyway, so they cannot be levered up. As is normally the case during the early part of Kondratieff Winter, real estate is the last great bubble. And now that the Fed has run out of asset classes to inflate into bubbles, the next major step will be destabilization and debt-deflation."
"Destabilization comes from the popping of bubbles, particularly when economic inflation is low, such as now. Therefore, let us review our bubbles. Tech stocks in the 1990’s certainly deserved some money, and the Internet deserved some VC backing. But the spending on the dot.com’s was clearly overkill, and we can see that by the bankruptcies of all but a handful of dot.com’s.
All the talk about the emergence of a New Economy vanished when in March 2000 the law of gravity caught up with the speculation of the late 1990’s, resulting in the wiping out of $4.6 trillion in investor wealth in Wall Street, a sum that, as Business Week pointed out, was half of the U.S. Gross Domestic Product and four times the wealth wiped out in the 1987 crash. After the Nasdaq crash burst the tech bubble, we piled into houses. Was that smarter or dumber than dot.com’s? Dumber, of course! Houses?!?!?! Where is the new technology in that? We had houses 1000 years ago! How on Earth is it logical to pay twice as much for a house than the price it was sold for only three years ago? That is absurd! And yet we piled in because we had no place better to put our money, i.e. we had fewer and fewer value-driven business opportunities to pursue.
Time-tested principles of prudent mortgage lending will inevitability return, and houses will once again be regarded merely as places to live. Perhaps you do not yet believe that housing is a bubble. Fine. I’m sure you will see otherwise. But, you know, even if house prices were to just level off (which they definitely will only do in a pipe dream), then their run-up is still insane, and symptomatic of a society that is piling into undeserving investment vehicles.
What’s next? Nothing. There are no further assets that we can lever up. Sure, we are presently piling into 30-year U.S. Treasuries, for the reasons I provided in Part 5, but Treasuries are 100% debt anyway, so they cannot be levered up. As is normally the case during the early part of Kondratieff Winter, real estate is the last great bubble. And now that the Fed has run out of asset classes to inflate into bubbles, the next major step will be destabilization and debt-deflation."
USING THE VIX AS A GUIDE
*click to enlarge.
IMHO the VIX is a voting mechanism, players BUY calls for long exposure, Puts for protection.....a rising VIX ratio let's us know the movers and shakers are getting nervous, this pulls back demand for buying and is why a RISING VIX spells LOWER prices for stocks.
BULLISH VIX trends show a decided falling trend (thoguh VIX does rise and fall to extremes, is why we add moving avg's)....declining FEAR = higher stock prices as FEAR of declines wane.....falling fear to hold LONG positions.
I am in DIRECT disagreement with some of my top subs......so take this for what its worth JUST my opinion and 2 cents, for me at VERY least I have WARNING SIGNAL of stock market trend change.....
This could turn out to be just a big correction in ongoing cyclical bullish trend. I find recent 6 90% down days and VIX spikes highly irregular in an announced primary up move.
I also don't like the underlying fundamentals, but they dont always pan out into price movement.
I don't like contracting credit and bank loans and find jobless claims inconsistant with economic expansion. I find current deflationary environment inconsistant with expansionary views.
Many of my "associates" have thrown caution aside......recent volatility may lead to price gains as counter move BUT for ME RISK prohibits BOTTOM calling in this environment and am willing to wait for MA's to signal enought YES votes that some risk has come out.
An intra day quickie play? I wouldn't rule that out with small amount of funds......2 feet staying out.
Duratek
WHAT TO LOOK FOR NEXT WEEK
Blue lines are FIB retrace levels to watch for resistance on any rebound rally.
Reversal came in last 10 minutes FRiday, mostly as result of options expiration action. There have been 6 90% plus down volume days since April highs.
Some say action at top in topping inidcators NOT consistant with previous major tops, major uptrend may still be alive. Blame sovereign debt crisis.
VERY OVERSOLD MKT, 2-7 day rally would be consistant with previous experience after big downside days....a selling exhaustion of sorts, but final lows of THIS correction since NEW low was put in may not have been registered.
MANY I know are already rushing in predicting a bottom and buying up stocks. Maybe that works but these were in bearish camp so easily switch back.
I am torn between playing the oversold conditions and not 100% sure LOW of correction has been put in.
Duratek
LONGEST RUNNING BULL MARKET
SINCE 1981 (high in yields LOW in price) Bonds have been in bull mkt !!!!! 29 years!!!!
WHENEVR this bull ends, and they ALL do, what kind of landscape do you think we will end up with? WITH GOBS of debt everywhere.....what would a BOND BUBBLE BURSTING DO?
Just a minute, better not contemplate that
D
WHAT ARE BOND YIELDS TELLING US? Searching for CLUES
Since 2000, there has been a STRONG correlation between direction of monthly yields and stocks as shown above. Will THIS continue?
Friday, May 21, 2010
MARKET WRAP. 10 MINUTES OF FAME
Market working off oversold, many jumping on bullish bottom callers.....so quick today to change feathers from bullish to bearish and back again.This ONE MINUTE chart, to provide closeup, call me at SPX 900-950 before I get excited.
Northrup gruman laying off 200 here in B'more, Afghan funds siphoning off even military companies.....we are screwed 10 ways to Sunday folks IMHO
Duratek
CRYSTAL BALL OR PATIENCE?
IMHO it is MUCH safer, more rewarding to WAIT for the trend to ESTABLISH itself. YOU CAN BOTTOM AND TOP PICK if you want, but follwoing the TREND VS trying to make one makes more sense from RISK standpoint.
MACD also made cross (see arrow) just prior to MA cross.....MA's were rising you buy the test.....not a guarantee, we're talking about increasing our odds of being right and making money.
Maybe stocks bottomed for LOTS of reasons....to me with volatility so high, when trend of rally if so re establishes there will be plenty of time to make money
D
3 CHEERS FOR THE BAILOUT. AM MARKET WRAP
APPROVED EUROPEAN BAILOUT . More importantly European markets are trading down AFTER the positive German vote! S and P futures are now trading as if the market will open sharply lower BELOW recent fat finger reaction lows. (that is where once made I would anticipate a bounce....no bounce at gross oversold is unlikely but could lead to panic)
NIKKEI japanese exchange has lost 6.5% over 5 trading days and has now fallen back below 10,000. Some A brain was touting them a buy at the 11,000 plus near term high.....JA
Recent EURO decline showed barely 2% bulls, a low should be in Euro, at Euro top 98% Bullish opinion.....hmmmm think there is a pattern here?
Recent Gold top showed 98% Bulls.
Bond yields on 10 yr hit bottom channel on inverse head and shoulders I was snooping....yields should rise from here for a time....breaking lower neckline would have cave yields....indicating extreme fear.
NOT GOOD , you'll remember March 2009 was the bottom of decline from crisis...so far.
"The Conference Board's Leading Indicators Index turned negative for the first time since March 2009 as the index declined 0.1% in April. The consensus estimate called for an increase of 0.2%. "
Freaky Friday? market "should" calm down a bit here....also opex friday
Thursday, May 20, 2010
DOW LOSES THE 200 DAY MOVING AVERAGE
The 20 and 50 are now declining....price may try to rise to breach at crossed levels, now descending from 10,700....my guess that would be top target on rally
HEAVY SEAS
LESS than 2% of stocks are riding ABOVE their 10 day moving average, we have had some HEAVY SEAS SELLING for several weeks, today was ANOTHER 90% downside day........many have switched to bear side....door is open for a rally attempt.
Should that NOT happen.....investor spych so damaged......anything could happen. We are taking note of all the 200 day moving avg's that have been pierced.....but they could be recaptured.
Tomorrow is options expiration Friday, and if they can shove it up the shorts ass tomorrow would be day to get it done.
A WOUNDED BULL running in the street can be dangerous....now IMHO is not to get careless....given the severity of today's selling, the big oversold readings.....market may take a breather....
D
Should that NOT happen.....investor spych so damaged......anything could happen. We are taking note of all the 200 day moving avg's that have been pierced.....but they could be recaptured.
Tomorrow is options expiration Friday, and if they can shove it up the shorts ass tomorrow would be day to get it done.
A WOUNDED BULL running in the street can be dangerous....now IMHO is not to get careless....given the severity of today's selling, the big oversold readings.....market may take a breather....
D
MARKET DEBACLE CLOSE
Stocks ended on the lows of the day, never a great sign. After ONLY being down 175 the Dow quickly gave up 200 more into close.
Here's the tape:
DOW 200 EMA (exponential Moving avg) 10,263 (support or was)
May reaction lows 9,869 CLOSE 10,068 loss of 4%
SPX 200 EMA 1102, May lows 1065, CLOSE 1071 off 3.9%
TRANSPORTS 200 EMA 4116, May lows 4169, CLOSE 4160 OFF 4.9%
NAZ 200 EMA 2223, May lows 2185, Close 2204
CHINA IMHO in confirmed bear market.
GS IMHO in confirmed bear mkt.
What is wrong? What is right?
My guess ANOTHER 90% down volume day. Hard to pull the buy trigger with action like this, just the way they like it.
D
Here's the tape:
DOW 200 EMA (exponential Moving avg) 10,263 (support or was)
May reaction lows 9,869 CLOSE 10,068 loss of 4%
SPX 200 EMA 1102, May lows 1065, CLOSE 1071 off 3.9%
TRANSPORTS 200 EMA 4116, May lows 4169, CLOSE 4160 OFF 4.9%
NAZ 200 EMA 2223, May lows 2185, Close 2204
CHINA IMHO in confirmed bear market.
GS IMHO in confirmed bear mkt.
What is wrong? What is right?
My guess ANOTHER 90% down volume day. Hard to pull the buy trigger with action like this, just the way they like it.
D
LIBOR, LIARS, and WAR
Rates have been rising, not a good sign
Will WAR be an answer? Gerald Celente read a must
Government must follow the will of the people. The people are restless, the people are fed up, the people thought they would get change with Obama, they did not instead got hosed....DOOR is open for 3rd party movement a TEA PARTY movement.
$1T and counting in Iraq now Obama has expanded into Afghan where NO INVADER HS EVER WON!!!
We are heading down a slippery slope, who will pull us out before it's too late?
D
Will WAR be an answer? Gerald Celente read a must
Government must follow the will of the people. The people are restless, the people are fed up, the people thought they would get change with Obama, they did not instead got hosed....DOOR is open for 3rd party movement a TEA PARTY movement.
$1T and counting in Iraq now Obama has expanded into Afghan where NO INVADER HS EVER WON!!!
We are heading down a slippery slope, who will pull us out before it's too late?
D
THE FORGOTTEN MILLIONS
You have institutional buyers mostly stepped away, you have individual investors long stepped away from the markets and include 8 MILLION PLUS out of work surely are NOT piling into 401k's.
What you are LEFT WITH is the computers, hedge funds and BIG BANKSTERS circle jerking themselves....aided by FREE MONEY from the FEDERAL RESERVE, BAILED OUT maybe for this purpose, they have played the market lows of fear and used more leverage to rally the markets....does that sound like a NEW BULL MKT? or reaction in a bear market.
A HUGE rise in jobless claims, in face of 1 M census hires....that's worrisome...whose left to buy all the defaulted homes?
WHO IS LEFT TO BUY THE STOCKS? those same players, the HFT gang....who masquerade as banks......can surely make money on the way down as easily as on the way up.
IS THIS a wall of worry you want to climb? AND STILL on the pop act financial network....the hair club.....guests are still talking UP the economy....%$#!@@**&^%@!!!
Over last 30 years we PILED UP HISTORIC levels of debt.....time has come....to deal with it.....by printing? or? WHOSE got answers? certainly not the politicians......when does civil unrest reach our shores? look at bright side.....$2 combo meals coming your way.....$1 packages of frozen meatballs at the $ store..... anybody selling anything other than influence and GOV connections is in trouble.
Duratek
What you are LEFT WITH is the computers, hedge funds and BIG BANKSTERS circle jerking themselves....aided by FREE MONEY from the FEDERAL RESERVE, BAILED OUT maybe for this purpose, they have played the market lows of fear and used more leverage to rally the markets....does that sound like a NEW BULL MKT? or reaction in a bear market.
A HUGE rise in jobless claims, in face of 1 M census hires....that's worrisome...whose left to buy all the defaulted homes?
WHO IS LEFT TO BUY THE STOCKS? those same players, the HFT gang....who masquerade as banks......can surely make money on the way down as easily as on the way up.
IS THIS a wall of worry you want to climb? AND STILL on the pop act financial network....the hair club.....guests are still talking UP the economy....%$#!@@**&^%@!!!
Over last 30 years we PILED UP HISTORIC levels of debt.....time has come....to deal with it.....by printing? or? WHOSE got answers? certainly not the politicians......when does civil unrest reach our shores? look at bright side.....$2 combo meals coming your way.....$1 packages of frozen meatballs at the $ store..... anybody selling anything other than influence and GOV connections is in trouble.
Duratek
TECHNICAL CALL AND MARKET ALERT !
Rule of thumb, give MORE weight to price action which breaks prior LOWS (or highs). I have circled prior price lows on daily basis.Futures have turned heavy seas down ahead of jobless claims 8:30 data........ I just posted above....some job LESS recovery holy crapola!
Jobless claims shoot to 471,000, some recovery
D
DR. COPPER, PATIENT IS ILL
AM data on tap, claims.....see if moves market. No way out of this mess until housing recovers, housing cannot recover with hand job stimulus, just borrowing forward demand.
TOO MUCH inventory, too many out of work, too much SLACK in manufacturing, wages flat, housing values depressed, loan demand down, standards tightened, small business confidence weak. Recovery in jeopordy.
Cannot have silver bullet, rabbit out of ASS, try to FIX debt crisis bubble burst by throwing crappy paper on used to be sure handed FED balance sheets (some $2T), now same for SOvereign debt....bailout after bailout.......cure the ills with more of what had ailed us....DEBT!
It either INFLATES AWAY, or it DEFLATES AWAY...pick your poison, both POISON for stocks.
If you made a bunch back......do you want to give it all back and then some? even if just a potential? what are you doing to protect your self and assets? Have you raised cash? DO you get any yield at all? WHAT WILL you DO, what is YOUR PLAN OF ACTION SHOULD, big should the BEAR MKT get confirmed alive and unfortunately well?
Some of my prized subs say just interuption in primary up move....higher highs coming......this is certainly possible as I pointed out opinion matters less than price action. FOR NOW....I'm going to be show me.......mortgage resets ROUND 2 are looming both residential and commercial.
LOW LOW inflation....most feel GOOD FOR MARKETS, FED will NOT even consider rise in rates...OK fine, how well has that worked so far? LAST 10 years?
It won't work this time either, IMHO
D
CRASH IN YIELDS BULLISH.....FOR BONDS THAT IS
Inverse Head and Shoulders formation in yields and downtrend channel.
Wednesday, May 19, 2010
COLLAPSE OF PAL
PM mkt update * Late day reversal may open gates for a pity rally to begin, if AM data cooperates, such a sigh of relief that deflation pressures will allow FED to keep rates at 0% forever.
YR/YR inflation near 0%, we are dangerously close to DEFLATION. 10 yr has fallen as low as 3.3% !!!
Canary is sniffing glue....
D
YR/YR inflation near 0%, we are dangerously close to DEFLATION. 10 yr has fallen as low as 3.3% !!!Canary is sniffing glue....
D
WHERE THERE'S A WILL THERE'S A WAY
Treasury announces Wells Fargo warrant auction
ino.com
"The government says it will auction 110.3 million warrants it received from Wells Fargo & Co. as part of its effort to recoup the costs of the $700 billion financial bailout. Financial institutions have been eager to cut ties to the bailout program, known as the Troubled Asset Relief Program, or TARP, to escape various restrictions imposed on banks receiving support. Those include limits on executive compensation. "
I'm not showing up to the auction....
Braniacs working on "circuit breakers" to slow down any precipitous share decline in the larger stocks......they don't even know exactly what happened that 1,000 point day......."gives traders time to think....." its the f'ing black boxes the HFT systems assholes! THAT IS THE STOCK market....you place a "market order" for shares, they get in front of you.....scalp you....it is said most have never had a losing trading day.....fair and open markets?
D
ino.com
"The government says it will auction 110.3 million warrants it received from Wells Fargo & Co. as part of its effort to recoup the costs of the $700 billion financial bailout. Financial institutions have been eager to cut ties to the bailout program, known as the Troubled Asset Relief Program, or TARP, to escape various restrictions imposed on banks receiving support. Those include limits on executive compensation. "
I'm not showing up to the auction....
Braniacs working on "circuit breakers" to slow down any precipitous share decline in the larger stocks......they don't even know exactly what happened that 1,000 point day......."gives traders time to think....." its the f'ing black boxes the HFT systems assholes! THAT IS THE STOCK market....you place a "market order" for shares, they get in front of you.....scalp you....it is said most have never had a losing trading day.....fair and open markets?
D
UNSETTLED
Overnight foreign markets sold off, Germany is imposing NAKED SHORT SALE restrictions. We're talking about stricter financial regulation here, as loans continue to contract.
The MSM hypes that housing sales are roaring back, but the end of GOV freebie forced demand forward, and PERMITS a better measure of strength plunged.
10 year bond yield has fallen all the way back to near 3.3% !!
States are raising taxes, Bush cuts set to expire.
Taco Bell offers $2 combo meals.
Euro is down to 1.21 !! Stronger $ can stifle exports. $ is 87 plus, was 1.21 in 2001.
Futures pointing to a red open
D
The MSM hypes that housing sales are roaring back, but the end of GOV freebie forced demand forward, and PERMITS a better measure of strength plunged.
10 year bond yield has fallen all the way back to near 3.3% !!
States are raising taxes, Bush cuts set to expire.
Taco Bell offers $2 combo meals.
Euro is down to 1.21 !! Stronger $ can stifle exports. $ is 87 plus, was 1.21 in 2001.
Futures pointing to a red open
D
Tuesday, May 18, 2010
DRACULA ECONOMY
*late update today down volume registered 88% of total volume....lower prices likely ahead
If you have Dracula and friends and YOU in a closed room, and you've run out of holy water and stakes......that's how the FED is going to feel having shot most of their ammo and filling their books with crap if another crisis or same erupts anew....where do they go from ZERO %???
Having traded their treasuries for near worthless paper, that's gotta suck. NO secondary market for mortgages. AT ZERO % rates for more than a year, with no hint of an end to it, that should sober you up as to what kind of mess we are in.
If you remove gov stimulus and inventory rebuilding you would not have much economic growth. This may be the WEAKEST real growth recovery from a recession in history, yet stocks up a record from lows? THEY goose what they can.
We have had double the amount of bank failures to date compared with last year this time.
We can barely muster a 1% inflation rate, yet hardly anyonenotices the DEFLATIONARY TRENDS!
We have a record level of unoccupied and foreclosed real estate...FED going to cut rates below ZERO?
YET We get the insanity of response from many heralding the rise in unemployment as a "bullish sign"..."means more people are looking, must mean more jobs" ASSHOLES! The shadow unemployed or underemployed would make it more like 18% unemployment...the U6 measure you dont hear about....wages are flat.
There are jobs...not nearly enough and you better be the best at whatever it is you are looking for....and not be over 50.
How do you cure a debt crisis with more debt?
A price is going to be paid....now or more later.
D
If you have Dracula and friends and YOU in a closed room, and you've run out of holy water and stakes......that's how the FED is going to feel having shot most of their ammo and filling their books with crap if another crisis or same erupts anew....where do they go from ZERO %???
Having traded their treasuries for near worthless paper, that's gotta suck. NO secondary market for mortgages. AT ZERO % rates for more than a year, with no hint of an end to it, that should sober you up as to what kind of mess we are in.
If you remove gov stimulus and inventory rebuilding you would not have much economic growth. This may be the WEAKEST real growth recovery from a recession in history, yet stocks up a record from lows? THEY goose what they can.
We have had double the amount of bank failures to date compared with last year this time.
We can barely muster a 1% inflation rate, yet hardly anyonenotices the DEFLATIONARY TRENDS!
We have a record level of unoccupied and foreclosed real estate...FED going to cut rates below ZERO?
YET We get the insanity of response from many heralding the rise in unemployment as a "bullish sign"..."means more people are looking, must mean more jobs" ASSHOLES! The shadow unemployed or underemployed would make it more like 18% unemployment...the U6 measure you dont hear about....wages are flat.
There are jobs...not nearly enough and you better be the best at whatever it is you are looking for....and not be over 50.
How do you cure a debt crisis with more debt?
A price is going to be paid....now or more later.
D
IS THE VIX SIGNALLING "CAUTION BEAR MARKET APPROACHING?"
The last time the 50 week pooped up thru the 200 week, and they were BOTH rising, the 2007 bear was here....that looks like it may be happening again.
We are looking for trend and it takes a lot to bend these longer running MA's, is why I use them with a weekly time frame.
We are looking for clues. This isn't the last word, many disagree, we're in a primary up move that is only being corrected.
For me personally after 75% move....you can have the rest.....given back drop!
D
HOUSING REOCVERY?
This should help shed light on recovery, anemic....considering how much money has been thrown at it, stimulus thrown at it, near lowest interest rates in history, affordability high.....what's wrong?
If housing brought us down, does this reflect the V shaped 75% moon shot stocks predicted?
D
May Showers Bring More Green Shoots?
Stocks reversed deep losses yesterday to close fairly unchanged, many will rush too say the correction is over.
Underneath the action we still had 66% down volume, masking the efforts. Should strong upside volume now expand, that argument can be brought up again. But IMHO we are seeing the natural reaction to a (FRIDAY) 90% downside volume day that could settle markets for a few days.
D
Underneath the action we still had 66% down volume, masking the efforts. Should strong upside volume now expand, that argument can be brought up again. But IMHO we are seeing the natural reaction to a (FRIDAY) 90% downside volume day that could settle markets for a few days.
D
Monday, May 17, 2010
HOHUM
BOY, what a finish...NO it's Monday who gets hurt on Monday?
NO everything is groovey, it is true you can reach Nirvana and cure a debt crisis by PILING on MORE DEBT....makes perfect sense to me
FRI was ANOTHER 90% DOWN volume day, 2-7 days of bounce could ensue
D
NO everything is groovey, it is true you can reach Nirvana and cure a debt crisis by PILING on MORE DEBT....makes perfect sense to me
FRI was ANOTHER 90% DOWN volume day, 2-7 days of bounce could ensue
D
OIL SLICK IN REFLATION GAMING
OIL SLICK. OIL IS NOT POINTING TO RECOVERY?
CHINA BREAK DOWN! NOW DOWN 25% from high and into BEAR REALM.
ATHENS, Greece (AP) -- Greek Prime Minister George Papandreou declared he is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis.
SSEC FALLS 5% to 2559 overnight
Saturday, May 15, 2010
TO BEER LOVERS
MONTEITH'S BLACK BEER If you can find this New Zealand Beer, and you like a mouthful of flavor, go get yourself some, post me a note let me know you loved it!
One of the best bottled beers I've tasted.
D
One of the best bottled beers I've tasted.
D
SAT AM POST
I like using the 10 and 25 EMA's, I have highlighted my chart so you can see how the signals are generated.
The MA's are now declining, so they will not be supportive to price, will act as resistance.
Let's put fingers in our ears, the news doesn't matter, opinions don't matter, ACTION matters....that's what I will concentrate on.
It would appear prices are not low enough to entice sustained buying to surpass old highs. It seems a good bet reaction lows below 10,000 will be tested.
So IMHO, I like talking about the fundamentals, but the stock action will speak louder. At the bottom nothing looked good but great time to buy. At tops data is appealing but prices have peaked......ACTION is more important than words
Duratek
WHY SO SOFT?
Sales of video game software and hardware plummeted in April aleady off 11% from putrid 2009 sales
Friday, May 14, 2010
FRIDAY MARKET WRAP
The rising VIX and the flat to declining 20 and 50 EMA's tells me more likely than not, we are in a period of correction. GOOD chance another test of the 200 EMA awaits.
VOlume continues to EXPAND on the down days, recede on the up days.
adjusted Monetary Base is in sharp decline
D
MARKET ALERT. SELLOFF IN PROGRESS
I have been pointing to the VIX as one of our guides, I had listed the 25 area as important for short term action, briefly dipping below Thursday, it held and closed above, now flirting with 30 plus again. This is ANXIOUS ACTION.
When players get happy feet, prices dive.
Greece and Europe (PIIGS) fixed? In John Mauldin's recent "outisde the box" May 10th online piece, he says "eurozone leaders assume that this is a LIQUIDITY problem. IT IS NOT. (my emphasis) It is a SOLVENCY and balance sheet problem." what many are saying kicking the can down the road.
Folks how can you solve a DEBT PROBLEM with MORE DEBT? what did we do here?
Market off 2% (210 Dow points), let's see how she closes......this may lead us to think reactive lows will get tested.....while goofasses on CNBC keep telling us how vibrant the recovery is.....continued employment claims in the 440,000 weekly range not very comforting....but DAMNIT was the York rd CHICK-FIL-A rocking for lunch! Now if that was a public company I would own shares of that. Best food, best quality, best service and attitude of any of the fast food chains....you will not catch me within half mile of a BK, MCD or Wendys.....that food is krap IMHO.
Duratek
When players get happy feet, prices dive.
Greece and Europe (PIIGS) fixed? In John Mauldin's recent "outisde the box" May 10th online piece, he says "eurozone leaders assume that this is a LIQUIDITY problem. IT IS NOT. (my emphasis) It is a SOLVENCY and balance sheet problem." what many are saying kicking the can down the road.
Folks how can you solve a DEBT PROBLEM with MORE DEBT? what did we do here?
Market off 2% (210 Dow points), let's see how she closes......this may lead us to think reactive lows will get tested.....while goofasses on CNBC keep telling us how vibrant the recovery is.....continued employment claims in the 440,000 weekly range not very comforting....but DAMNIT was the York rd CHICK-FIL-A rocking for lunch! Now if that was a public company I would own shares of that. Best food, best quality, best service and attitude of any of the fast food chains....you will not catch me within half mile of a BK, MCD or Wendys.....that food is krap IMHO.
Duratek
WEAK IN THE KNEES
TEST of recent reaction lows may in thecards with recent weakness and selling prior to any chance of enough buying power to propell stocks to any new rally high.
Gold's out of control posting another SERIOUS gain this AM to near $1,240 an ounce, and yet I know of almost NO ONE who owns any! GOLD at new highs in face of strong rally in US $ is a stern warning IMHO.
OIL which was at $85 atthe height of recent stock highs and wet dreams of strong recovery AGAIN shocks the longs now near $72 !!! WTF????? weak oil usually translates into WEAK ECONOMIES
ILLINOIS A DEADBEAT?
AM DATA DUE UP.
Gold's out of control posting another SERIOUS gain this AM to near $1,240 an ounce, and yet I know of almost NO ONE who owns any! GOLD at new highs in face of strong rally in US $ is a stern warning IMHO.
OIL which was at $85 atthe height of recent stock highs and wet dreams of strong recovery AGAIN shocks the longs now near $72 !!! WTF????? weak oil usually translates into WEAK ECONOMIES
ILLINOIS A DEADBEAT?
AM DATA DUE UP.
Thursday, May 13, 2010
CHART OF THE DOW
*click to enlarge. Then click again (will see +) to see full size
The markets could unravel at the speed of light as they did last week. "Circuit breakers needed, close the NYSE, givce more free money to big banks to keep buying.......keep up appearences"
D
BEHIND THE NUMBERS
Though the stock market has regained points, it has done so with the continued pattern of much lower volume than seen on the declines.
There is a very good chance this is a setup and will lack enough conviction to better previous highs at this time.
AS suggested I am watching the VIX and any potential weakness below 25 for a clue I am wrong.
Now countries are "too big to fail?" is there no end to the meddling?
D
There is a very good chance this is a setup and will lack enough conviction to better previous highs at this time.
AS suggested I am watching the VIX and any potential weakness below 25 for a clue I am wrong.
Now countries are "too big to fail?" is there no end to the meddling?
D
Wednesday, May 12, 2010
WHAT RALLY?
We have fixed everything by expanding DEBT even more?
Consumers can NO LONGER use their homes to finance consumption, a SECULAR change is in the air.
D
CLOSEUP OF RECENT ACTION
Price rolling over on the semi's.
ALLSTATE Consumer Sentiment Poll (CEO on cnbc) fell in APril from previous LOW reading.
ALLSTATE Consumer Sentiment Poll (CEO on cnbc) fell in APril from previous LOW reading.
Tuesday, May 11, 2010
WALK AWAY
Not a James Gang song, but what many homeowners are doing, walking away from homes read link Huffington post. JPM front and center.
Price is meandering UNDER the 50 EMA, a move above would challenge recent highs...I'm not so sure...
D
Price is meandering UNDER the 50 EMA, a move above would challenge recent highs...I'm not so sure...
D
CHINA BEAR?
Given yesterdays ROMP, given the ECB move over weekend, is anyone else watching Chinese developments
D
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